70+ US Crypto ETFs Await SEC Approval Under Paul Atkins

Paul Atkins has officially taken office as the new Chair of the U.S. Securities and Exchange Commission (SEC). In his first statement, he emphasized a clear mission: to ensure the United States remains “the best and most secure place in the world to invest and do business.”

His appointment comes at a critical time, with the SEC facing a flood of crypto ETF applications and growing pressure to define how digital assets fit into traditional finance. The decisions made under his leadership could reshape how the U.S. handles crypto investments – and the clock is already ticking.

72 Crypto ETFs Under Review

The SEC is now reviewing 72 crypto-related ETF proposals. These cover a wide range of digital assets, from major tokens like XRP, Litecoin, and Solana, to more speculative assets like Dogecoin, Penguins, and novelty tokens such as 2x Melania.

Even with the growing number of altcoin and meme coin ETFs in the pipeline, Bitcoin still dominates the space. Currently, Bitcoin ETFs account for 90% of all global crypto fund assets.

Bitcoin ETFs Still Rule the Market

According to Bloomberg ETF specialist Eric Balchunas, while altcoin ETFs will certainly see some attention, Bitcoin is likely to retain 80-85% of the market share in the long term, proving its enduring dominance in the crypto ETF space.

As institutional interest grows, with 80% of firms planning to increase crypto allocations by 2025, analysts caution that approval doesn’t guarantee success. Balchunas compared ETF approval to music streaming: “Your song might be on Spotify, but it doesn’t guarantee listeners.”

XRP, Solana, and Meme Coins Lead the ETF Race

XRP leads all digital assets in ETF filings, with Bitwise submitting an early application and Franklin Templeton joining the race more recently. Solana (SOL) has also gained momentum, with several successful ETF filings.

Meme coins aren’t being left behind. Grayscale’s Dogecoin ETF and 21Shares’ Polkadot ETF are both under review, adding to a growing list of unconventional crypto offerings.

VanEck and ARK Invest Expand Crypto Exposure

Major investment firms are also stepping up. VanEck recently received approval for its “Onchain Economy ETF,” which will include 30 to 60 stocks tied to the crypto ecosystem. The fund will cover everything from mining companies and exchanges to data centers and traditional financial firms involved in crypto.

ARK Invest made a notable move by adding staked Solana to two of its ETFs. This marks the first time U.S. investors can gain direct ETF exposure to SOL.

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All Eyes on Atkins

With more products on the table and investor demand rising, the spotlight is now on Atkins and how he’ll steer the SEC’s approach to crypto. Some of the underlying assets remain highly volatile, raising questions about how aggressive or cautious the new leadership will be.

Will Atkins push forward and open the doors wider for crypto adoption through ETFs – or will he take a more measured path?

The next few months will reveal all.